While many Canadian tech companies are feeling the pinch of falling valuations and tepid revenue growth, March Networks is experiencing a renewed sense of vigour.
Already an Insider? Log in
- Critical Ottawa business news and analysis updated daily.
- Immediate access to all Insider-only content on our website.
- 4 issues per year of the Ottawa Business Journal magazine.
- Special bonus issues like the Ottawa Book of Lists.
- Discounted registration for OBJ’s in-person events.
While many Canadian tech companies are feeling the pinch of falling valuations and tepid revenue growth amid a widespread market selloff in 2022, March Networks is experiencing a renewed sense of vigour. The renaissance began when the Kanata-based video-surveillance software firm was acquired by Taiwanese manufacturing giant Delta Electronics late last year. March Networks CEO Peter Strom says Delta, which has annual revenues north of US$10 billion, immediately made it clear it was ready to put its money where its mouth was when it came to pursuing a more aggressive growth path for its newest acquisition. For Strom, who’s been at March’s helm since 2003, that commitment signalled a seismic shift from the more conservative approach taken by the firm’s previous owners, New Jersey-based Infinova. “We weren’t really able to invest as aggressively as we liked in either research and development or even acquisitions,” Strom says of life at March in the past few years prior to Delta’s ownership. “The handcuffs have come off, and we can go ahead and be much more aggressive.” March’s first big move under its new bosses, finalized a few weeks ago, is a case in point. The Kanata company acquired a state-of-the-art data-crunching platform called FOCUS Business Analytics from Polish tech startup DoIT Software in early October. “It’s a relatively small acquisition for us, but very strategic,” Strom explains of March’s first M&A play under its new owners. As part of the deal, March will be taking on about 15 DoIT employees and establishing a new advanced data analytics research hub in the eastern European country. Strom says expanding into Poland not only gives March software capabilities it previously lacked, it also opens the door to a new source of highly skilled workers. “The hunt for engineering talent is very fierce,” the veteran tech executive notes. “It’s slowing down a little bit now … but it’s been pretty competitive. What Poland does is it gives us another area where we can go out and get some of the talent we need.”